Forex Day Trading - Scalping Your Way To a Fortune

Forex Day Trading - Scalping Your Way To a Fortune

by kelly Price

Today there are more forex day trading and scalping systems available online than ever before. It's the dream of many traders to buy one and day trade for a living and make an income by scalping regular profits and here we will look at this in more detail.
Well the theory, says regular profits - the reality is different and is:

All forex day traders and scalpers always lose.

The systems that you see on the net make big claims and track records that look great - but the track records are never real - there simulated.

This is a disclaimer you will see (or similar) read it carefully:

"cftc rule 4.41 - hypothetical or simulated performance results have certain limitations. unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Any forex day trading system you see will be simulated and of course anyone can make a profit in hindsight - but in reality we have to trade not knowing the closing price in advance.

So why don't you ever find a forex day trading system with a real track record?

Quite simply - because forex day trading or scalping doesn't work.

The reason for this is all volatility in daily time periods is random, support and resistance levels are meaningless and prices can and do go anywhere in a day.

You can't get the odds on your side and you can't win - Period.

The proof of course is in the track record and you will never ever see a day trading or scalping system with a real one - try and find one and if you do let me know, I have been looking for 25 years!

HOW TO WIN

If You want to win at forex trading then you are going to need to look at longer time periods, you have a choice:

Forex trading following looking for trends that last for weeks or month or forex swing trading which looks for trends that last for a few days to around a week.

The one you choose is up to you but both allow you to get the odds on your side because they use data over longer periods.

If you want to win leave forex scalping to the dreamers, naive or greedy traders and concentrate on ways to get the odds in your favor and enjoy currency trading success.

Free online forex trading course

Free online forex trading course

by Nick Schultz

Learning something new is always a cumbersome process, and if one is expected to sit in a classroom for hours on end, it makes the subject uninteresting. In today's world, where everything is done in record time and people have no time to mull over things, the Internet has been the best invention, and the most useful. There are many websites that offer courses on every possible topic and area. There are some sites that are already offering Free online forex trading courses. To learn a course online means you have to download the study material, and spending time learning on your own. And most of these courses charge a fee for the material and the guidance they provide. However, there are some that give you the same free of charge. Before enrolling in one of these it is essential to read through their terms and conditions to make sure there are no catches or hidden agenda. Some sites insist that the person finish the course and make their first investments with the company. In which case, they will have an agreement, that needs to be accepted before entering the course. Be wary of those that make false promises that you will become rich overnight.

The Free online forex trading course should give the participant a full understanding of how the foreign exchange trade works. The history of the same and what is really means so that they get a good foundation and can get further learning on their own then they normally would. Also the details pertaining the various terms used, the trading hours, and how a trade can be made. The different styles of trading and the platforms available for a person to make their sale or purchase and why timing is an essential factor. If these areas are covered, then the person can practice on their own and understand the intricate details involved in this. How one should go about opening an account and what a mini account is are among other topics to be discussed. And if the person has any queries or doubts, they must be able to mail or contact the company or website to clarify any questions that they may have.

Only if a person is aware of the risk involved and the kind of losses that they could incur, will they be careful enough about the money they invest. They must also be educated on the factors causing fluctuations in the currency rates. And when someone registers with different free online forex trading programs they must check on whether it is a certified course or not. This will help them in situations where they want to pursue this as a business instead of just as an investor. Some of the websites go a little further in assisting their members, they provide periodical updates and quotes on a daily or weekly basis. This helps the members keep watch over the changes and understand how the system operates. If at the end of the course, the member has learnt something and is able to trade confidently, then the course has been definitely worth it.

Nick Schultz is a Forex Trading expert who recently developed an eCourse that details a step by step process for success Forex investing. If you are interested in learning more about his "9 Steps to Better Forex Investing" eCourse and learning how to make greater profits from your Forex Trading, please go here right now! : http://www.forexinvestingcourse.com